Tue, 23 Jul 2019

JPJ Group PLC Announces 1st Quarter Results

ACCESSWIRE
15 May 2019, 16:01 GMT+10

JPJ Group plc Results for the Three Months Ended 31 March 2019

Gaming revenue up 13% year-on-year, with adjusted EBITDA up 16%
Trading in line with expectations

LONDON, UK / ACCESSWIRE / May 15, 2019 / JPJ Group plc (LSE: JPJ) (the 'Group'), a leading global online bingo-led operator, today announces the results for the three months ended 31 March 2019.

Financial summary1

Three months ended

31 March 2019

(Pound m)

Three months ended

31 March 2018

(Pound m)

Change

(%)

Gamingrevenue

83.3

74.0

13

Netincome/(loss) from continuing operations (as reported under IFRS)

7.9

(8.0)

-

AdjustedEBITDA2

29.0

24.9

16

Adjustednet income2

22.6

19.1

18

Operatingcash flows

20.6

24.4

(16)

Dilutednet income/(loss) per share from continuing operations3

0.11

(0.11)

-

Dilutedadjusted net income per share from continuing operations2,3

0.30

0.26

15

Financial highlights forfirst quarter

• Good financial performance

o Gaming revenue rose 13% year-on-year, driven by strong organic growth4 at Vera&John

o Adjusted EBITDA2 increased 16% year-on-year highlighting operating leverage at Vera&John

o Adjusted net income2 increased by 18% year-on-year

• Strong ongoing cash generation and reduction in net debt

o Completed the sale of the Mandalay business for Pound 18.0 million on 12 March 2019 - a Pound 12.0 million cash consideration was received upfront with the outstanding Pound 6.0 million to be paid in September 2019

o Free cash flow5 of Pound 18.8 million and adjusted net debt6 of Pound 274.8 million (compared to Pound 302.1 million at 31 December 2018)

o Adjusted net leverage ratio7 of 2.44x reduced from 2.68x at 31 December 2018

• Following the positive start to 2019, the Group continues to trade in line with management's expectations

Operational highlights

• Continued improvement in core KPIs8,9 year-on-year:

o Average Active Customers per Month8,9 grew to 242,938 in the twelve months to 31 March 2019, an increase of 8% year-on-year

o Average Real Money Gaming Revenue per Month8,9 grew to Pound 25.7 million, an increase of 12% year-on-year

o Monthly Real Money Gaming Revenue per Average Active Customer8,9 of Pound 106, an increase of 4% year-on-year

Click on, or paste the following link into your web browser, to view the full announcement

http://www.rns-pdf.londonstockexchange.com/rns/0366Z_1-2019-5-14.pdf

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

SOURCE: RNS London Stock Exchange



View source version on accesswire.com:
https://www.accesswire.com/545457/JPJ-Group-PLC-Announces-1st-Quarter-Results

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